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--. <br />VACATION AND <br />RE-GRANTING AGREEMENT <br />., <br />�rr��•i,�„e��r u <br />fi� <br />This Agreement is made this � day of �Y�i%R , 200�by and between the <br />City of Raseville, a Minnesota municipal corporation (hereinafrer the "City") and Old <br />Dominion Freight Line, Inc., a Virginia corporation (hereinafrer the "Owner"), the fee owner of <br />the real property located within Ihe City and Ramsey County, Minnesota described in Exhibit A <br />(hereinafrer the "Exhibit A Property"). <br />RECITALS <br />WHEREAS, a Quit Claim Deed, dated April 29, 1959 and recorded as document number <br />1511814 at the Ramsey County Recorder's Office on June 7, 1960 (hereinafter the "1959 Quit <br />Claim Deed"), purports to quit claim and deed to the City certain 10 foot strips of property <br />affecting the north and east sides of the Exhibit A Property, all as more fully shown on Exhibit <br />� <br />WHEREAS, the 1959 Quit Claim Deed indicates the conveyance is for pubiic roadway <br />a��d highway purposes; <br />WHEREAS, the City believes the ] 959 Quit Claim Deed conveyed fee simple title to the <br />] 0 foots strips of property, with a use restriction; <br />WHEREAS, the Owner believes the 1959 Quit Claim Deed conveyed only a permanent <br />public easement for roadway and highway purposes; <br />WHEREAS, the City has not, to date, utilized the ] 0 foot strips for roadway or highway <br />purposes, but may do so in the future; <br />WHEREAS, Owner is in the process of selling a portion oF the Exhibit A Property to <br />Metro Transit for the purpose of constructing and operating a Park and Ride facility (hereinafrer <br />[he "Metro Transit Project") and in connection with such sale, Owner must plat the Exhibit A <br />Properiy into two separate lots — Lot 1 Twin Lakes Addition (hereinafrer "Lot 1") which will be <br />